Investors who have shied away from cleantech companies for the past two years haven’t lost interest, they’re broadening their scope into more areas of sustainability, according to a report by Cleantech IQ.

“The definition of ‘cleantech’ has expanded greatly. There is still some perception that when you talk about cleantech, you’re talking about a technology risk on solar, wind, and biomass,” Craig Metrick, leader of Mercer’s US Responsible Investment Practice, told Cleantech IQ.

While venture capital has pulled back from those sectors lately, there are plenty of opportunities in energy efficiency, pollution control, water, and waste management – sustainability sectors that support cleantech and advance environmental progress without the same degree of exposure.